Released Mortgage Loan. As of any Transfer Date, any Mortgage Loan other than a Covered Mortgage Loan that was Delinquent in payment for a period of 210 days or more as of the last calendar day of the month immediately preceding the month in which such Transfer Date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated. Released Mortgage Transferee: Initially, Aurora Loan Services LLC, and its successors and assigns.

Released Mortgage Loan. As of any transfer date as set forth in the related Servicing Agreement, any Mortgage Loan other than a Covered Mortgage Loan that was delinquent in payment for a period of time equal to the later to occur of (i) 210 days or more or (ii) 30 days or more after such Mortgage Loan became a Charged-off Loan, in each case as of the last calendar day of the month immediately proceeding the month in which such transfer date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated. Released Mortgage Transferee: The Master Servicer.

Released Mortgage Loan means, as of any Transfer Date, any Mortgage Loan other than a Covered Mortgage Loan that was Delinquent in payment for a period of time equal to the later to occur of (i) 210 days or more or (ii) 30 days or more after such Mortgage Loan became a Charged-off Loan, in each case as of the last calendar day of the month immediately preceding the month in which such Transfer Date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated.

Examples of Released Mortgage Loan in a sentence

Notwithstanding anything to the contrary contained in this Agreement, each Charged-off Loan that becomes a Released Mortgage Loan shall be released from the Trust Fund as soon as practicable after becoming a Released Mortgage Loan and shall no longer be an asset of any REMIC.
Each Released Mortgage Loan shall be transferred to the Released Mortgage Transferee, without recourse.
For purposes of compliance with the REMIC Provisions, any such Released Mortgage Loan transferred to the Released Mortgage Transferee pursuant to this Section 7.04 and having any value as of the date of such transfer shall be treated as having been transferred by the related REMIC as additional compensation for services provided to such REMIC.
Thereafter (i) the Released Mortgage Transferee shall be entitled to any amounts subsequently received in respect of any such Released Mortgage Loans, (ii) the Released Mortgage Transferee may designate any Servicer to service any such Released Mortgage Loan and (iii) the Released Mortgage Transferee may sell any such Released Mortgage Loan to a third party.
The Trustee, upon receipt of certification from the Master Servicer that a Charged-off Loan has become a Released Mortgage Loan, shall execute such instruments of transfer, assignment or release, in each case, without recourse, as shall be provided by the Master Servicer and necessary to transfer such Released Mortgage Loan.

More Definitions of Released Mortgage Loan

Released Mortgage Loan. As defined in Section 7.01(a).

Released Mortgage Loan. As of any transfer date as set forth in the Servicing Agreement, any Mortgage Loan that was delinquent in payment for a period of time equal to the later to occur of (i) 210 days or more or (ii) 30 days or more after such Mortgage Loan became a Charged-off Loan, in each case as of the last calendar day of the month immediately preceding the month in which such transfer date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated and reported by the Servicer to the Trustee as a “Released Mortgage Loan.” Released Mortgage Transferee: Initially, Xxxxxx Xxxxxxx Capital Inc., and its successors and assigns.

Released Mortgage Loan. As of any Transfer Date, any Mortgage Loan other than a Covered Mortgage Loan that was Delinquent in payment for a period of time equal to the later to occur of (i) 210 days or more or (ii) 30 days or more after such Mortgage Loan became a Charged-off Loan, in each case as of the last calendar day of the month immediately preceding the month in which such Transfer Date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated. Released Mortgage Transferee: Initially, Aurora Loan Services LLC, and its successors and assigns.

Released Mortgage Loan. As of any transfer date as set forth in the Servicing Agreement, any Mortgage Loan that was delinquent in payment for a period of 210 days or more as of the last calendar day of the month immediately preceding the month in which such transfer date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated and reported by the Servicer to the Trustee as a “Released Mortgage Loan.” Released Mortgage Transferee: Initially, Xxxxxx Xxxxxxx Capital Inc., and its successors and assigns.

Released Mortgage Loan. As of any Transfer Date, any Second Lien Mortgage Loan that was delinquent in payment for 30 days or more after such Second Lien Mortgage Loan became a Charged-off Loan, in each case as of the last calendar day of the month immediately preceding the month in which such Transfer Date occurs, without giving effect to any grace period permitted by the related Mortgage Note, and for which foreclosure proceedings have not been initiated. Released Mortgage Transferee: The majority holder of any NIM Residual Securities (if any such NIM Residual Securities have been issued and are outstanding), or if no NIM Securities are outstanding, the majority Holder of a Class X Certificate or its designee.